Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-242-218"

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"The ‘six pack’ gives more weight to the current Stability and Growth Pact (SGP), thanks to better quality monitoring and to a previous stage of the deficit and of the debt. It breaks new ground by forcing the political decision-makers to act swiftly to restore the health of economies threatened by macroeconomic imbalances, such as bubbles in the housing market or a decrease in competitiveness. Finally, its purpose is to ensure that the statistics, essential for taking sound budgetary decisions and monitoring the budget, are more precise, particularly thanks to a more independent data collection. However, this text is only one of the stones for this structure. Other decisions will have to be taken to strengthen economic governance (creation of a European monetary fund and a bond market, pooling of part of the debt, and so on). Similarly, resolute action in favour of education, innovation and competitiveness will be needed."@en1

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